We will comment about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. To open an atomic swap, the first party will create an HTCL address who will then deposit a cryptocurrency. After that, a secret passcode for this cryptocurrency is created. This is called a preimage. which is subsequently hashed (a process that “locks” the preimage). This hashed preimage is then forwarded to a second party, who verifies that the capital for the cryptocurrency has been deposited. A second trader will then deposit their trade capital into a new address, which has been created with the same hash. The first party unlocks the trade capital deposited by the second party with a secret passcode used to deposit the initial trade capital. The second party can then unlock the trade capital deposited by the first party. Meaning, that an atomic swap has been processed. Why are atomic swaps important?
Apps & Software: Day traders need to be constantly tuned in, as reacting just a few seconds late to big news events could make the difference between profit and loss. That’s why many brokers now offer user friendly cryptocurrency mobile apps, ensuring you can stay up to date whether you’re on the train, or making your sixth coffee of the day. The cryptocurrency trading platform you sign up for will be where you spend a considerable amount of time each day, so look for one that suits your trading style and needs. Exchanges like Coinbase offer in-depth platforms, such as their Global Digital Asset Exchange (GDAX). It’s always worth setting up a demo account first to make sure the exchange has the technical tools and resources you need.
Hack Vulnerability: Centralized exchanges always have the risk of getting hacked. Probably the most infamous example of this is Coincheck which got hacked for $550 million worth of NEM. The worst part is that this hack greatly reduced crypto sentiment in Japan, a country that was traditionally known to be very crypto friendly. Subject to Mismanagement: The infamous Mt. Gox hack where bitcoins worth $500 million were robbed happened directly as a result of CEO Max Karpeles’s inept management. As Andreas Anatopoulos put it: “Magic The Gathering Online Exchange (Mt. Gox) is a systemic risk to bitcoin, a death trap for traders and a business run by the clueless.” Read extra details at Crypto Swap.
Shapeshift offers a unique exchange rate for each coin that changes every 30 seconds according to market conditions, but its typical ‘miner’ fee is in the ballpark of 0.5%. Support is provided for 29 cryptocurrencies including BTC, BCH and DAI, and boasts one of the nicest interfaces on the market. Another very good pick is Atomiic.io.
Our service provides two exchange types: floating rate and fixed rate. You can always choose the most suitable one for you. We make the cryptocurrency exchange process simple as a daily shopping trip. All in order for you to exchange what you want, when you want and as much as you want. A user-friendly and easy-to-use platform for cryptocurrency exchanges. It works without registration and limits. Source: https://atomiic.io/.